Results 11,441-11,460 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Tax Reliefs Availability (19 Jun 2013)

Michael Noonan: The position is, as I have stated on many occasions in the House, that this issue was raised during the debates in the Seanad on the Finance Bill 2013, during which I agreed to re-examine the matter during the course of this year. My Department is currently in the process of examining the issue and when the analysis is completed and the findings are presented to me, I will make any...

Written Answers — Department of Finance: Credit Review Office Remit (25 Jun 2013)

Michael Noonan: The Deputy will be aware that the Credit Review Office recently published its eleventh report in which the Credit Reviewer stated that he had asked that the threshold be raised to €3 million. The Deputy will also be aware that I published an assessment of the Credit Review Office late last year which contained a number of recommendations to make the CRO more effective in encouraging...

Written Answers — Department of Finance: Fuel Laundering (25 Jun 2013)

Michael Noonan: I am advised by the Revenue Commissioners who have responsibility for the collection of mineral oil tax that they are very aware of the threat that fuel laundering and the sale of laundered product poses both to the exchequer and to legitimate businesses. Revenue takes every opportunity to remind motorists and the public generally that, in addition to its impact on the exchequer and...

Written Answers — Department of Finance: Tax Code (25 Jun 2013)

Michael Noonan: I indicated in my Budget 2013 speech that further changes in the tax treatment of supplementary pension arrangements for higher earners would be introduced next year. The examination and consideration of the various options for change are ongoing. I made clear in my Budget 2013 speech, however, that tax relief on pension contributions would continue at the marginal rate of tax. Alterations...

Written Answers — Department of Finance: Tobacco Smuggling (25 Jun 2013)

Michael Noonan: I am advised by the Revenue Commissioners that they view the illicit trade in tobacco products as a very serious matter and that combating this illegal activity is a high priority for them. Their “Strategy on Combating the Illicit Tobacco Trade 2011-2013” includes a wide range of measures that are designed to identify and target those involved in the supply or sale of illicit...

Written Answers — Department of Finance: Tobacco Smuggling (25 Jun 2013)

Michael Noonan: I am advised by the Revenue Commissioners, who have responsibility for the collection of tobacco products tax, that, in accordance with section 104(2) of the Finance Act 2001, tobacco products tax is not chargeable on cigarettes that are bought tax-paid by a private individual in another member state of the European Union, provided that the cigarettes are for the individual’s own...

Written Answers — Department of Finance: IBRC Account Holders (25 Jun 2013)

Michael Noonan: I have been advised by the Special Liquidators that all Borrowers can re-finance their borrowings with other lending institutions however there will be no write down of the debt outstanding. I have been informed by the Special Liquidators that the window in which Borrowers are allowed to re-finance their loans 100% will remain open until such time as the loan is sold in the sales process.

Written Answers — Department of Finance: Universal Social Charge Yield (25 Jun 2013)

Michael Noonan: I am informed by the Revenue Commissioners that the yields to the Exchequer, estimated by reference to 2013 incomes, of increasing the 7% rate to 8%, 9%, 10%, and 11%, as suggested by the Deputy, would be of the order of €450 million, €900 million, €1,345 million, and €1,795 million in a full year respectively. The estimated yields include corresponding rate...

Written Answers — Department of Finance: Tax Reliefs Availability (25 Jun 2013)

Michael Noonan: I propose to take Questions Nos. 188 and 192 together. The position is, as I have stated on many occasions in the House, that this issue was raised during the debates in the Seanad on Finance Bill 2013, during which I agreed to re-examine the matter during the course of this year. My Department is currently in the process of examining the issue and when the analysis is completed and...

Written Answers — Department of Finance: VAT Rates Application (25 Jun 2013)

Michael Noonan: I am advised by the Revenue Commissioners that, as the Deputy has not identified the shopkeeper in question, they cannot respond in relation to the particular case referred to. However, they have provided the following information in regard to the matter of VAT being chargeable on the sale of Mass Cards. A trader whose business includes the sale of Mass Cards must record the sales in...

Written Answers — Department of Finance: Tax Code (25 Jun 2013)

Michael Noonan: I take it the question raised by the Deputy refers to Capital Acquisitions Tax (CAT) agricultural relief. In order to qualify for this relief an individual receiving a gift or inheritance of agricultural property must qualify as a farmer. For the purpose of the relief a farmer is an individual at least 80% of whose assets constitute agricultural property. The relief takes the form of a...

Written Answers — Department of Finance: Property Taxation Data (25 Jun 2013)

Michael Noonan: As I previously indicated to the House in my response to Parliamentary Question No. 74 of 30 May 2013 (26457/13) the Revenue Commissioners confirmed that, at the end of the extended LPT filing deadline on 29 May 2013, 1,539,822 LPT Returns had been filed. According to the Commissioners, in excess of 1.55 million returns have now been filed. Up the end of May over €121m had been...

Written Answers — Department of Finance: NAMA Loan Book (25 Jun 2013)

Michael Noonan: I refer the Deputy to pages 21-22 of NAMA’s Annual Report and Financial Statements for 2012, which contain a detailed breakdown of property, by geography and sector, securing NAMA loans as at 31 December 2012. I am advised by NAMA that a breakdown in respect of 2013 will be provided in the relevant Annual Report and Financial Statements.

Written Answers — Department of Finance: Tax Collection (25 Jun 2013)

Michael Noonan: I am advised by the Revenue Commissioners that the criteria for entry into their Large Cases Division is applied on a group rather than a company basis. For a group to be managed in the Large Cases Division, group turnover must be in excess of €162 million or group tax payments (all taxes) must be in excess of €16 million in a year. In addition, certain sectors such as pensions...

Written Answers — Department of Finance: EU Funding (25 Jun 2013)

Michael Noonan: Data on Ireland’s EU Budget contributions are published annually by my Department in the Budget & Economic Statistics bulletin. The table below contains the most recently published data. Ireland’s contribution for 2012 will be published in my Department’s Budget and Economic Statistics bulletin for 2013, due to be published in the autumn. Year EU Budget Payment...

Written Answers — Department of Finance: Tax Code (25 Jun 2013)

Michael Noonan: I understand that the Deputy’s question relates to gift and inheritance tax regarding farms. The Capital Acquisitions Tax (CAT) code includes gift tax, inheritance tax and discretionary trust tax. The tax is charged on the amount gifted to, or inherited by, the donee (the person receiving the gift/inheritance). There is a tax-free threshold (referred to as a ‘group...

Written Answers — Department of Finance: Company Registration (25 Jun 2013)

Michael Noonan: I am informed by the Revenue Commissioners that there is no requirement in Irish tax law for a company to claim the status of Irish registered non-resident company. While there is no requirement for a company to claim Irish registered non-resident status, the Revenue Commissioners as part of their normal compliance activity in the area of corporation tax, would seek confirmation from a...

Written Answers — Department of Finance: Tax Code (25 Jun 2013)

Michael Noonan: I assume that the Deputy refers to an increase in the standard rate tax bands, which would apply similarly to single and widowed persons, as well as to lone parents. In addition, the proposed extensions to the various standard rate bands are assumed to also apply to married couples. On this basis, I am informed by the Revenue Commissioners that the full year cost to the Exchequer,...

Written Answers — Department of Finance: Financial Services Ombudsman Issues (25 Jun 2013)

Michael Noonan: Firstly, I must point out that the Financial Services Ombudsman is independent in the performance of his statutory functions. I have no role in the day to day workings of the office. The Financial Services Ombudsman Bureau was established under the Central Bank and Financial Services Authority of Ireland Act 2004. This legislation provides the Financial Services Ombudsman with various...

Written Answers — Department of Finance: European Banking Sector (25 Jun 2013)

Michael Noonan: The European Central Bank works closely with the European Investment Bank (EIB) and with the EU Commission. The ECB is an independent body in which I have no role in relation to its internal deliberations. Regarding an ECB role in providing funding directly for small businesses, this falls in the realm of monetary policy. Monetary policy issues are discussed at the Governing Council and the...